Ingram was a restricted free agent this offseason but was expected to commit long term to New Orleans after a stellar breakout campaign in which he averaged a career-best 23.8 points, 6.1 rebounds, 4.2 assists, and shot 39.1% from three.
The 23-year-old also earned his first career All-Star selection and was named the Most Improved Player of the 2019-20 season.
Ingram was drafted second overall by the Los Angeles Lakers in 2016. He was traded to New Orleans prior to last season in the blockbuster deal that sent Anthony Davis to L.A.
He's now the fourth member of the 2016 draft class to secure a maximum deal following his rookie contract, joining Pascal Siakam, Ben Simmons, and Jamal Murray. Boston Celtics wing Jaylen Brown and Sacramento Kings shooting guard Buddy Hield are other members of the class to have since landed deals nearing or exceeding $100 million.